my reasons for holding cnp, page-19

ptialv
Agree, Credit crunch they couldn't have predicted. But when they aquired New Plan they hedge alot of bets on the fact their wouldn't be a global turn down. They put themselves in a Massively high LVR position with that purchase. To be honest without New Plan Centro Woes wouldn't even exist. Their is also talk of the fact Centro paid to much for New Plan .(GR's not gonna say that cause he sold it to them)Hence now the write downs on those assets. But what is done is done and where here now but certainly Healey /Scott must take some of the blame on this issue. I think the two have worked hand in hand in taking Centro down. Global Credit crunch and New Plan purchase that is.